Fitch cuts Lanka ORIX Finance view to negative

Fitch Ratings said it changed Lanka ORIX Finance Co. Ltd.'s outlook to negative from stable.

Its national long-term rating has been affirmed at A-(lka).

The outlook revision reflects the company's weakened capitalization following rapid growth since the financial year that ended March 31, 2009, Fitch said.

The rating is driven by the company's standalone financial strength rather than support from its parent, Lanka ORIX Leasing Co. plc, the agency said.

The rating reflects its strong franchise among registered finance companies, healthy profitability, good and improving asset quality and a planned improvement in capitalization, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.